Zimbabwean multi-trillion dollars attract Vietnamese money collectors
Zimbabwe's virtually worthless currency is attracting buyers among Vietnamese collectors as novelty additions their collections.
Zimbabwe recently said it was phasing out the Zimbabwe dollar and replacing it with a new currency, after ravaging inflation devalued the dollar by more than 230 million%, to the point where it cost 35 quadrillion Zimbabwe dollars to buy one US$.
The Zimbabwe economy has mostly been operating on South Africa's rand, or the US dollar.
Despite having virtually no value, the design of the Zimbabwe banknotes is considered attractive among collectors. Vietnam websites are offering 100 trillion dollar notes for VND350,000; the price is VND120,000 for a 10 trillion dollar note and VND160,000 for a 20 trillion dollar note.
Hoang Cong Minh, from Hanoi’s Hai Ba Trung District, who has been collecting and trading strange money for five years, said many people have asked him for Zimbabwe dollar banknotes, the 100 trillion dollar note being the most popular.
An online money trader in Hanoi said the value of Zimbabwean dollars has been going up on the secondary market because of high demand by collectors.
“The value for Zimbabwe’s 100 trillion dollar notes has doubled. Many people called me to buy the banknote, but they have to wait several days,” the trader said.
Hoang Anh Ngoc, another money collector in Hanoi, said she likes the design of Zimbabwean dollar notes of different face values and uses them as presents for friends to wish them good luck in business.